Regulatory Alerts2019-10-03
Regulation to Amend Regulation 31-103 Respecting Registration Requirements, Exemptions and Ongoing Registrant Obligations
The Canadian Securities Administrators amended National Instrument 31-103 to implement Client Focused Reforms that strengthen the client-registrant relationship. The changes introduce strict obligations for registrants to know their clients and products, ensure suitability determinations prioritize client interests, and manage material conflicts of interest. Additionally, the regulation updates compliance training requirements, restricts borrowing and lending practices, and mandates clearer disclosures regarding fees and misleading communications.
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